The world’s popular stablecoin issuer, USDT, is now ready to launch its gold-pegged stablecoin XAUT ( Tether Gold) to Thailand, and the development is followed by its listing on Maxbit.
Maxbit is a Thailand based cryptocurrencies exchange that was created as a joint venture with PTG Energy, a publicly traded company listed in Thai stock market.
Following this announcement, Paolo Ardoino of Tether said, “ We are pleased to see XAUT listed on Maxbit, marking a significant milestone as the first platform to offer access to our gold-backed digital asset in Thailand.”
Tether eyes a bigger stop in the global crypto market
The further information notes that each stablecoin will be pegged at 1:1, which means each coin will be issued in reserve of one troy ounce of physical gold, and it is said that the gold is securely stored in safe vaults in Switzerland.
The attestation report by Tether says that it holds 246,523 ounces of Gold, which is roughly 7.7 tons, and the market cap of Tether Gold is nearing $ 1 billion.
According to data from CoinMarketCap when writing Tether Gold was at $3,246 with a surge of 38.31% in the past 52 weeks.
Since its market debut, XAUt recorded a highest trading price of $3,529 on April 22, 2025, and a lowest price at which it traded was $1,408.
It is worth noting that USDT has massively worked on its expansion and is now one of the most circulated cryptocurrencies, as its usage is termed to be one of the most convenient.
Around 61% of the worldwide stablecoin market is controlled by USDT, which as of May 12, 2025, has a supply of over $150 billion in circulation.
This is a 36% increase over the last 12 months, solidifying its position as the top stablecoin, well ahead of Circle’s USDC, which controls over 25% of the market.
USDT serves as a fiat on-ramp and off-ramp for traders worldwide and is a vital source of liquidity for cryptocurrency trading and decentralized finance (DeFi). Because of its extensive use, it serves as a gauge for the demand for crypto.
Tether has been under regulatory attention in the past; in 2021, the U.S. CFTC fined the company $41 million for making false statements regarding reserve backing.
Although Tether disputes these claims, worries about its possible involvement in market manipulation and the absence of complete transparency still exist.
In 2025, Tether debuted USDT0, an omnichannel version, and offered zero-fee USDT transfers through collaborations like the Plasma Foundation, increasing uptake on networks like Flare.
Along with integrating compliance tools with Chainalysis, it also made forays into AI, Bitcoin mining, and tokenization platforms such as Hadron.
